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Home Business Oil & Auto

Trump ends ‘electric vehicle mandate,’ withdraws US from Paris climate agreement

The FINANCIAL by The FINANCIAL
January 21, 2025
in Oil & Auto
Reading Time: 1 min read
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WASHINGTON ― President-elect Donald Trump declared a “national energy emergency” as part of a suite of Day 1 executive orders and other actions Monday aimed at carrying out his long-promised “drill, baby, drill” agenda on American fossil fuels, according to USA Today.

The orders include eliminating the so-called “electric vehicle mandate,” Trump’s phrase for a Environmental Protection Agency rule that required auto manufacturers to cut greenhouse gas emissions by half in new light- and medium-duty vehicles beginning in 2027.

The EPA has estimated the rule would force auto manufacturers to build electric vehicles for about 30% to 56% of their new light-duty vehicles by 2032 and 20% to 32% of new medium duty vehicles.

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President Donald Trump holds up an executive order after signing it during an indoor inauguration parade at Capital One Arena on January 20, 2025 in Washington, DC. Donald Trump takes office for his second term as the 47th president of the United States.
Trump also signed an order withdrawing the U.S. from the Paris Climate agreement, which former President Joe Biden had re-joined after his election four years ago.

Another executive order from Trump will reopen drilling in parts of Alaska after Biden took action to limit both oil and gas drilling and mining in the state. The scope of the Alaska order wasn’t immediately clear.

Trump has promised to work to overturn Biden’s recent action to ban offshore drilling on the Atlantic and Pacific coast.

In other actions, Trump implemented a freeze on creating new federal regulations and a separate freeze on hiring new federal workers. He also directed federal employees to return to in-person work.

Trump, who campaigned on lowering costs for consumers, also signed a presidential memorandum on inflation, which White House officials said would begin an “all of government approach” to bring down consumer prices.

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